CBRE|Hampton Roads arranges financing on Norfolk office building

The office building involved was the 225,286 square-foot SunTrust Building at 150 W. Main St. building in Norfolk. It is owned by 150 Owner, LLC.

The purpose of the loan was to refinance and secure long-term permanent fixed-rate financing taking advantage of current low interest rates.

John C. Richards Jr., vice president of CBRE Capital Markets’ Debt & Structured Finance group, arranged the financing through one of his correspondent permanent lenders. The transaction was completed in 35 days from application to closing.